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Home My WebLink AboutBID BOND - B & B & SUPPLY - BID BOND • KNOW ALL MEN BY THESE PRESENTS,that we, B & B Builders & Supply as Principal,and Merchants Bonding Company (Mutual) as Surety are held and firmly bound unto the City of Waterloo,Iowa,hereinafter called "OWNER".In the penal sum ---Five Percent of Amount of Bid--- dollars • . (S---5%--- )lawful money of the United States,for the payment of which sum will and truly be made, we bind ourselves, our heirs, executors, administrators,and successors,jointly and severally,firmly by these presents. The condition of this obligation is such that whereas the Principal has submitted the accompanying bid dated the 3rd day of January ,2012 for 2012 Riverfront Sports Park Shelter Project . NOW,THEREFORE, a)If said Bid shall be rejected,or in the alternate, b)If said Bid shall be accepted and the Principal shall execute and deliver a contract in the form specified and shall furnish a bond for his faithful performance of said contract, and for the payment of all persons performing • labor or furnishing materials in connection therewith,and shall in all other respects perform the agreement created by the acceptance of said Bid, Then this obligation shall be void,otherwise the same shall remain in force and effect;it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall,in no event, exceed the penal amount of this obligation as herein stated. • By virtue of statutory authority,the full amount of this bid bond shall be forfeited to the Owner in liquidation of damages sustained in the event that the Principal fails to execute the contract and provide the bond as provided in the specifications or by law. • The Surety;for value received,hereby stipulates and agrees that the obligations of said Surety and its bond shall be in no way impaired or affected by any extension of the time within which the Owner may accept such Bid or execute such contract; and said Surety does hereby waive notice of any such extension. Th7 WITNESS WHEREOF,the Principal and the Surety, and r ••Li i,ES6d -,.HEREO1, have hereunto set their hands seals, and such of them as are corporations,have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers this 3rd day of January , A.D.20 12 , B & B Builders & Supply ( al) • Principal 4 • s By V g 1 -�'e uel- _(Title)�/ CR,�' • Witless • • Merchants Bonding Co -pany(Mutual) (seal) Sure CW, a 1�C`v� `' By • f _ • Witness • Attomcy-In-Fact D2 e R. oung • & Iowa Resident As-nt ' BID BOND PAGE I OF 1 MERCHANTS BONDING COMPANY POWER OF ATTORNEY Know All Persons By These Presents,that the MERCHANTS BONDING COMPANY(MUTUAL),a corporation duly organized under the laws of the State of Iowa,and having its principal office in the City of Des Moines,County of Polk,State of Iowa,hath made, constituted and appointed,and does by these presents make,constitute and appoint Dione R.Young,Barry A.McGee,John W.Ahrold,John R.Fay,Jennifer Stark, Karlene Kentner,Matt Fay of Des Moines and State of Iowa its true and lawful Attorney-in-Fact,with full power and authority hereby conferred in its name,place and stead,to sign,execute,acknowledge and deliver in its behalf as surety any and all bonds, undertakings,recognizances or other written obligations in the nature thereof,subject to the limitation that any such instrument shall not exceed the amount of: FIFTEEN MILLION($15,000,000.00)DOLLARS and to bind the MERCHANTS BONDING COMPANY(MUTUAL)thereby as fully and to the same extent as if such bond or undertaking was signed by the duly authorized officers of the MERCHANTS BONDING COMPANY(MUTUAL),and all the acts of said Attorney-in-Fact,pursuant to the authority herein given,are hereby ratified and confirmed. This Power-of-Attorney is made and executed pursuant to and by authority of the following Amended Substituted and Restated By- Laws adopted by the Board of Directors of the MERCHANTS BONDING COMPANY(MUTUAL)on November 16,2002. ARTICLE II,SECTION 8-The Chairman of the Board or President or any Vice President or Secretary shall have power and authority to appoint Attorneys-in-Fact,and to authorize them to execute on behalf of the Company,and attach the Seal of the Company thereto,bonds and undertakings,recognizances,contracts of indemnity and other writings obligatory in the nature thereof. ARTICLE II,SECTION 9-The signature of any authorized officer and the Seal of the Company may be affixed by facsimile to any Power of Attorney or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the Company, and such signature and seal when so used shall have the same force and effect as though manually fixed. In Witness Whereof,MERCHANTS BONDING COMPANY(MUTUAL)has caused these presents to be signed by its President and its corporate seal to be hereto affixed,this 5th day of November, 2010. ...,46 C04••. • MERCHANTS BONDING COMPANY(MUTUAL) Os: POA -..e . :�:_ -0- o •41' y` 1933 :c. By .9ZW-71..7 7:74, Q. STATE OF IOWA •'• •'• President COUNTY OF POLK ss. On this 5th day of November,2010 ,before me appeared Larry Taylor,to me personally known,who being by me duly sworn did say that he is President of the MERCHANTS BONDING COMPANY(MUTUAL),the corporation described in the foregoing instrument,and that the Seal affixed to the said instrument is the Corporate Seal of the said Corporation and that the said instrument was signed and sealed in behalf of said Corporation by authority of its Board of Directors. in Testimony Whereof,I have hereunto set my hand anu emxeir a e Lity of Des Moines,Iowa,the day and year first above written. CINDY SMYTH 644 f1: Commission Number 173504 Acww My Commission Expires UUU March 16,2012 Notary Public,Polk County,Iowa STATE OF IOWA COUNTY OF POLK ss. I, Wiliam Warner,Jr.,Secretary of the MERCHANTS BONDING COMPANY(MUTUAL),do hereby certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said MERCHANTS BONDING COMPANY(MUTUAL),which is still in full force and effect and has not been amended or revoked. In Witness Whereof,I have hereunto set my hand and affixed the seal of the Company on this 3rd day of January 2012 .•••••. .• G • ••0. ......Cps. . ,o• ma•y, 1933 �'3' Secretary • :c. POA 0001 (1/09) •..'ly . C.••